DoorDash, Inc. $DASH Stake Lowered by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 28.0% during the first quarter, HoldingsChannel reports. The fund owned 58,839 shares of the company’s stock after selling 22,834 shares during the quarter. GC Wealth Management RIA LLC’s holdings in DoorDash were worth $8,835,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MV Capital Management Inc. acquired a new position in DoorDash in the 4th quarter worth about $26,000. Eastern Bank lifted its holdings in shares of DoorDash by 714.3% during the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after buying an additional 67 shares in the last quarter. Swiss RE Ltd. bought a new stake in shares of DoorDash in the 4th quarter valued at approximately $28,000. Finally, ST Germain D J Co. Inc. acquired a new position in DoorDash in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

NASDAQ DASH opened at $169.77 on Friday. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50. The company has a fifty day simple moving average of $171.94 and a 200 day simple moving average of $176.06. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a market cap of $73.97 billion, a P/E ratio of 80.84 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the firm posted $0.44 EPS. The business’s quarterly revenue was up 33.1% on a year-over-year basis. On average, sell-side analysts predict that DoorDash, Inc. will post 2.39 EPS for the current year.

Insiders Place Their Bets

In other DoorDash news, CFO Ravi Inukonda sold 19,095 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total value of $3,590,623.80. Following the sale, the chief financial officer owned 252,443 shares of the company’s stock, valued at $47,469,381.72. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of DoorDash stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. This represents a 2.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 74,927 shares of company stock valued at $13,241,532 in the last ninety days. Company insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DASH. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. KeyCorp cut their price target on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Zacks Research lowered shares of DoorDash from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Weiss Ratings upgraded shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Stifel Nicolaus lowered their target price on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $252.89.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.